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February 25, 2009

Liberty Global Q4 net loss widens

Revenue up 17% on year-ago

By CBR Staff Writer

Liberty Global, a US-based video, voice and broadband internet services provider, has posted a net loss of $753m, or $2.6 per share, for the fourth quarter ended December 31, 2008, as compared to a net loss of $197m, or $0.54 per share, for the corresponding quarter in fiscal 2007.

For the fourth quarter ended December 31, 2008, the company has reported revenue of $2.57 billion, compared to $2.46 billion for the corresponding quarter in 2007.

For the year ended December 31, 2008, the company posted revenue of $10.56 billion, up 17% from $9 billion in fiscal 2007. For fiscal 2008, the company reported a net loss of $789m or $2.5 per share, as compared to a net loss of $423m, or $1.11 per share, in the fiscal 2007.

Mike Fries, president and CEO of Liberty Global, said: In terms of our capital structure, our balance sheet and liquidity position remain strong, as we have limited near-term debt amortizations, a low cost of capital, and are generally hedged on interest rates and foreign currencies. Although we are focused on maintaining prudent liquidity reserves, we continue to believe our equity is an attractive investment, as evidenced by the fact that we have repurchased $250m in equity since early November 2008.

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